Honorable Bob Deuell, Chair, Senate Committee on Economic Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1084 by Hinojosa (Relating to the enterprise zone program.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to revise the definition of a qualified employee, a veteran, and a qualified business as they relate to an Enterprise Zone relating to the Texas Economic Development Bank. The bill would limit the number of enterprise projects that the Texas Economic Development Bank may designate in each application round of each biennium, and provide provisions for the designation of enterprise projects. The bill would also amend the Government Code and the Tax Code to remove the ability of an enterprise project to receive a tax credit and to revise certain requirements for an enterprise project to be eligible to receive a tax refund.
The Office of the Governor, the Trusteed Programs within the Office of the Governor, and the Comptroller of Public Accounts indicate the provisions of the bill could be implemented within existing resources.
This bill would take effect immediately if it receives a vote of two-thirds of each house; otherwise, it would take effect on September 1, 2013.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
300 Trusteed Programs Within the Office of the Governor, 301 Office of the Governor, 304 Comptroller of Public Accounts